the bankruptcy code in Germany, that effectively removes their potential impact on CDS firms. Using a unique dataset on … capital constrained, and that are liquidity constrained recognise the empty creditor effect to a larger extent. Furthermore …, banks' business models affect the degree to which they recognise the empty creditor effect. Where banks that monitor their …

the bankruptcy code in Germany that effectively removes their potential impact on CDS firms. Using a unique dataset on … constrained embed the empty creditor effect into their probability of default estimates of affected firms to a larger extent. So …

November 1999 - Financial reorganization under bankruptcy reduces a firm's debts to serviceable levels through …-managers to remain in control. Under the ACCORD scheme - Auction-based Creditor Ordering by Reducing Debts - creditors remain … ACCORD would be appropriate for East Asia, where, despite new bankruptcy laws, inexperienced courts are unlikely to nudge …